How Employee Discount Programs Extend Your Benefits Beyond the Office

June 10, 2024

A solid benefits package is key to retaining employees and ensuring they stay healthy enough to be productive and engaged over the long term. Extending benefits beyond the office also leads to even greater employee satisfaction. One way to extend benefits is through [employee discount programs]( These programs let your team members buy goods and services at reduced prices. For example, you might offer discounts like movie tickets, sporting events, or popular attractions. Promoting discount programs that are relevant to seasonal celebrations can add excitement; for example, you could offer International Foods Day in the employee cafeteria to tell employees about a new airline discount program. [Research]( shows that fun and excitement in the office lead to greater creativity and better employee retention. ## Employee Benefits Impact American workers value benefits. In fact, they will often [choose]( a job with great benefits and a reasonable salary over a job that offers few benefits but a great salary. Benefits also provide great value to you as an employer. #### Enhancing Employee Morale A good benefits package tells employees you care about them. Knowing they are cared about increases their morale. Employees who are happy and feel good about themselves tend to work harder and more creatively. #### Supporting Work-Life Balance Employees are better satisfied when they have sufficient time to spend on their hobbies and families. Flexible schedules, [paid time off](, and discounts on vacation packages, child care, and gym memberships all contribute to balancing work and life. #### Boosting Employee Engagement Increased [employee engagement]( can also lead to [higher earnings per share](, better customer service, and improved company reputation. Benefits such as continuing education, training, and wellness opportunities at work can boost employee engagement. #### Improve Employee Retention Rates Benefits improve employee satisfaction and retention. Losing employees can be costly, but benefits that help you retain top talent can be cost-effective. ## Employee Discount Programs: Beyond the Office Employee discount programs extend benefits to your employees and your company beyond the office. They keep current employees engaged and make you more attractive to prospective employers. #### Health Benefits Beyond Traditional Insurance Most businesses offer health insurance to their employees. You can set your company apart by offering additional health benefits. For example, you could offer gym memberships, discounts on healthy snacks, negotiated discounts with mental health professionals, or discounted coaching for weight loss or smoking cessation. Discount programs encourage healthy behaviors by making them affordable. They also reinforce the message that you care about your team. #### Financial Security and Savings Opportunities Employees value opportunities to save for future goals, such as home purchase, retirement, or children's college education. Many employers offer 401(k)s or 403(b)s; however, top companies will offer more extensive financial wellness benefits. Examples include: - Discounts on financial education and coaching. - Free credit score monitoring. - Discounted legal help, especially help in preparing wills and fighting identity theft issues. - Student loan counseling, including help in obtaining income-driven payment plans. - Access to college savings plans, possibly with an employer-matching contribution - Discounted counseling on managing college expenses, including FAFSA strategy. - Discounts on insurance beyond traditional offerings, such as disability, long-term care, and pet insurance. - Access to platforms that enable employees to buy discounted goods on installment plans with no interest. - Eldercare savings accounts or discounts on eldercare services. ## Enhancing Quality of Life Through Lifestyle Perks Lifestyle perks can help employees enjoy their off-hours more and return to work refreshed. Examples include hotel, flight, and rental car discounts and discounts on popular vacation destinations such as New York, Las Vegas, Southern California and Orlando to to enjoy Disneyland, Walt Disney World, Universal Studios,Broadway Shows, Concerts, Sporting Events and or visit local attractions. Adding a [loyalty reward]( component to the discount program can increase employee retention. #### Investing in Employees' Professional Growth Employees want to learn new skills and advance in their professions. You want to ensure depth of talent across all positions. Investing in employees' professional growth is a win-win, helping you and your team achieve their goals. Examples include: - Tuition reimbursement. - Paid sabbaticals during which employees learn new skills that benefit them and your company. - Discounts on online courses. - Assistance in paying professional association membership fees. - Paying for employees to attend conferences. ## Key Takeaways Expanding your benefits package beyond the office improves employee engagement, productivity, and morale. You can extend all aspects of your benefits package, including health, financial well-being, quality of life, and professional development. Benefits expansion takes a holistic approach. It promotes wellness and work-life balance and demonstrates to employees that you care about them as people outside of work. Expanding professional development benefits also helps ensure effective succession planning. Any benefit expansion requires employee participation to be successful. You can encourage employee participation through corporate discounts and loyalty rewards. The more often an employee participates, the more they'll save. For example, you can offer discounts on hotel stays and flights while also offering loyalty points each time they book. The points can add up to a free stay or flight. [Working Advantage]( provides the largest corporate discount program in the world. Want to enhance your employee experience? Join over 40,000 companies using the largest corporate discount program in the world and sign [up for Working Advantage](
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